FTSE up 0.43%; DAX up 0.75%; CAC 40 up 0.84% (Il Sole 24 Ore Radiocor) - London, 29 Aug - European shares closed higher as investors digested fresh inflation numbers from Germany and Spain as well as upbeat data from the US.

In the US, second quarter GDP came in stronger than preliminary data at 3.0% from 2.8% while the latest weekly jobless claim report showed less people had filed for unemployment, underlining the resilience of the labour market.

The focus now shifts to tomorrow's PCE price index which could prove decisive in cementing of sinking growing hopes for a 50 basis point cut in interest rates September rather than just a quarter point.

Meanwhile, in Germany harmonised consumer prices, calculated for European Union purposes, fell 0.2% month on month in August and rose 2.0% year on year, while economists were expecting a 2.6% year on year increase.

And consumer prices growth in Spain slowed to 2.2% compared to the year earlier after climbing by 2.8% the previous month.

Also, the Economic Sentiment Indicator (ESI) in the eurozone in August rose by 0.6 points compared to July to reach 96.6, while in the European Union it increased 0.4 points to 96.9, figures from the European Commission showed.

The London FTSE 100 closed up 0.43% at 8,379.64 points, the Frankfurt DAX rose 0.75% at 18,930.51 points, the Paris CAC 40 added 0.84% at 7,640.95 points, while in Milan the FTSE MIB gained 0.92% at 34,192.06 points, and in Madrid the IBEX 35 closed 0.29% higher at 11,364.98 points.

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(RADIOCOR) 29-08-24 18:02:07 (0491) 5 NNNN